IT Pro Impact: NFC and Mobile Commerce

Sreedhar Kajeepeta12/31/11

Move Over, Credit Cards—NFC Is Coming

If you think mobile commerce isn't going to take hold, we invite you to consider the 1950s, when credit card use was limited to fewer than 100,000 people. Today in the United States alone there are upward of 610 million credit cards in circulation, with the various issuers reporting 2011 net purchases close to $2 trillion—and that doesn't include debit cards. And a smartphone equipped with a near field communication (NFC) chip beats plastic hands down because it's easier to secure and can be more than a payment method. It can help consumers decide what to buy, find the best possible price on a given item and automatically incorporate applicable discounts. (S4120112)